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Notice u/s 139(9) error 31
Sir,
Income from Business or Profession (Chapter IV D) 698805
From Firm (25.00% Share )
Remuneration 369709
Interest 121336
491045
Income u/s 44AE 90000
Income u/s 44AD 117760
I have filled complete balance sheet but not filled P/L Account assuming that it is not needed.as the income are u/s 44AD & 44AE and other is Remuneration and Interest from Firm.
Recently I have received notice stating that you have to file complete P/L account.
Now what P/L account I have to report..
Thanks..
Abhay Sinha
Replies (1)
General problem with ITR 4, when not selecting 'accounts not required to be maintain' and not filling some basic figures mandatorily required as gross income etc.
In this case, from gross receipts go revese to arrive at net profit and distribute tentatively as per estimated expense ratio. Fill all this figures in P&L Schedule. Its mandatory now, otherwise liable for invalidation.
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